Four Seasons Coconut Grove: Where the 70-Residence Tower Stands Now

As of October 2026, Four Seasons Private Residences Coconut Grove is in vertical construction at 2699 South Bayshore Drive, with a $323.8 million construction loan closed and completion targeted for mid-2028. The 20-story bayfront tower will hold 70 condominium residences, and a developer representative said in January 2026 that more than half were presold.

From groundbreaking to going vertical

CMC Group and Fort Partners started construction in October 2025 on a waterfront site CMC bought in 2020, after a nine-story office building there was demolished. In late January 2026 the partners closed a $323.8 million construction loan from Bank OZK, which Commercial Observer reported. By early July 2026 Florida YIMBY and Hoodline both described the ground floor as largely formed, with concrete columns, shear walls and the elevator core rising and decking underway on the south side of the site.

The developers still point to delivery in mid-2028. That is a target, not a certificate of occupancy, and a 20-story concrete tower that went vertical in mid-2026 has roughly two years of structure, facade and interior work ahead.

What is being built

• 70 residences of 2,025 to 3,975 square feet, plus four penthouses of up to 9,690 square feet.
• Ceilings of about 10 to 11 feet and private elevator entry to each home.
• Architecture by Luis Revuelta, interiors by Michele Bönan.
• No hotel on site: it is described as Florida's first standalone Four Seasons branded residential building, with services managed by the brand. That makes it a different product from Four Seasons Residences Miami in Brickell, a 70-story tower completed in 2003 that also holds a Four Seasons hotel.

Sales launched in 2024. A project representative told Commercial Observer it was over 50 percent presold but declined to share sales figures.

How the Grove's large-unit market looks today

Every Four Seasons home is larger than 2,000 square feet, so the relevant resale comparison is the Grove's large-unit segment, not the neighborhood median. Own.Miami's MLS data show 58 closed sales of Coconut Grove condos of 2,000 square feet or more in the 12 months to October 13, 2026, at a median of $4,425,000 and $1,564 per square foot. Another 67 were listed for sale at a median ask of $5,999,000, or $2,000 per square foot.

Next door at 2675 South Bayshore, Grove at Grand Bay South recorded 3 MLS closings in the same 12 months at a median $6,430,000 and $1,592 per square foot, while its 3 active listings asked a median $1,987 per square foot. At Club Residences at Park Grove, 9 closings had a median of $1,626 per square foot.

Why it matters for buyers and owners

For buyers under contract, the key dates are the remaining construction milestones: topping off, facade close-in and the certificate of occupancy. A tower more than half presold before reaching its upper floors carries less sales risk, but the 2028 date can still slip.

For owners of large units on South Bayshore Drive, 70 branded residences arriving in 2028 is new competition at the very top of the market. Own.Miami's Financeability Index puts both Grove at Grand Bay South and Club Residences at Park Grove in the cash tier, meaning recorded mortgages are rare there, so resale demand in this band depends on cash buyers more than on interest rates. The wider Grove market already has 9.6 months of supply according to Own.Miami's Coconut Grove market report, as of October 13, 2026, which leaves resale sellers competing with both existing inventory and the new tower.